Chile Attracts $7 Billion in Renewable Energy Investment

Santiago, Chile — Chile, the wealthiest nation in Latin America, is attracting $7 billion of renewable investments from Abengoa SA to SunEdison Inc. as the government seeks to reduce its dependence on fossil fuels to supply cheaper power to the mining industry, which provides a third of the world’s copper. “It’s a good economy with a stable political environment,” Garland said. “Renewables will become a much bigger part of the Chilean electricity supply.” Pattern Energy Group LP, the developer of Chile’s biggest wind farm, plans to proceed with a solar plant in the top copper-producing nation’s Atacama Desert. Pattern received an environmental permit for one solar project in Chile and is interested in developing more renewable- energy plants in the country, Chief Executive Officer Michael Garland said in a telephone interview today. The El Arrayan wind farm 250 miles (402 ...